Moody’s has upgraded Peak Re’s Insurance Financial Strength Rating (IFSR) to A3 from Baa1, with the Hong Kong-based reinsurer attributing the improvement to strong fundamentals underpinned by consistently solid operating performance, disciplined underwriting, and prudent risk management.
The rating agency also upgraded the backed subordinated debt rating of the perpetual subordinated guaranteed capital securities issued by Peak Re’s subsidiary, Peak Re (BVI) Holding Limited, to Baa2 (hyb) from Baa3 (hyb).
According to the company, the upgrades recognise its “established effective corporate governance framework and steadfast operational independence.”
Peak Re added that it benefits from a strong and independent board and a diversified ownership structure, which was further broadened in January 2026 through investments by funds managed by KKR and Quadrantis Capital as minority shareholders.
For the full year 2025, Peak Re’s reinsurance revenue increased 32.8% year on year to $1.54 billion.
The firm’s reinsurance service result improved 12.7% year on year to $162.9 million, supported by 25% growth in gross written premiums to $2.2 billion.
Peak Re also reported net profit after tax of $189.5 million in 2025, while net assets rose to $1.68 billion.
Looking forward, the firm said that it remains fully committed to service excellence, disciplined underwriting, and strategic business growth.
Victor Kuk, Chief Executive Officer of Peak Re, added, “This A3 upgrade is an unequivocal validation of Peak Re’s formidable financial foundation, our resilient business model, and our unwavering commitment to prudent risk management.
“We have systematically engineered a highly resilient, independent enterprise, characterised by solid capital agility and stringent risk governance. This milestone solidifies our stature as one of the fastest-growing global reinsurers specialising in emerging markets.
“More importantly, this enhanced financial credibility directly translates into superior value for our clients. We are now even better positioned to act as a strategic partner, deploying our robust capacity to co-create tailored risk solutions and support our clients’ growth ambitions across the globe.”
